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Overview / Commentary
268 South State Street, Suite 300
Salt Lake City, UT 84111

Celtic Bank is headquartered in Salt Lake City and is the 30th largest bank in the state of Utah. It is also the 2,265th largest bank in the nation. It was established in 2001 and as of March of 2014, it had grown to 125 employees at 1 location. Celtic Bank's money market rates are 61% higher than the national average, and it has a A health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Celtic Bank had $7.41 million in non-current loans and owned real-estate with $52.61 million in equity and loan loss allowances on hand to cover it. This gives Celtic Bank a Texas Ratio of 14.08% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Celtic Bank decreased dramatically from 35.75% as of March 31, 2013 to 14.08% as of March 31, 2014, resulting in a positive change of 60.62%.This indicates that the balance sheet and financial strength for Celtic Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, Celtic Bank has increased its total deposits by $30.34 million, resulting in 15.47% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Celtic Bank has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Celtic Bank has $285.79 million in assets with $52.61 million in equity, resulting in a capitalization level of 18.41%, which is excellent.

Institution Statistics

FDIC Certificate #57056
Year Established2001
Primary RegulatorFDIC
Assets and Liabilities
Assets$285.79 million
Loans$222.15 million
Deposits$226.45 million
Equity Capital$42.02 million
Loan Loss Allowance$10.59 million
Unbacked Noncurrent Loans$4.03 million
Real Estate Owned$3.38 million
Historic Data - March 2013
Assets$240.11 million
Equity Capital$34.92 million
Loan Loss Allowance$8.21 million
Unbacked Noncurrent Loans$4.03 million
Real Estate Owned$8.39 million
Profit Margin - Quarterly
Net Interest Margin6.58%
Return on Assets2.81%
Return on Equity19.35%
Interest Income$5.09 million
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Celtic Bank Money Market Rates

0.71%$1m-Personal Money Market Account
0.71%$1m-Business Money Market Account

Celtic Bank CD Rates

2.28%$1k-10 Year CD
1.67%$1k-5 Year CD
1.34%$1k-4 Year CD
0.95%$1k-3 Year CD
0.58%$1k-2 Year CD
0.48%$1k-18 Month CD
0.39%$1k-1 Year CD
0.27%$1k-6 Month CD

Celtic Bank Locations
Celtic Bank268 South State Street, Suite 300Salt Lake City, UT 84111